Shanghai Futures Exchange (SHFE), established in 2000 through the merger of three previous futures exchanges in Shanghai, operates as a non-profit futures exchange under the direct management of the China Securities Regulatory Commission (CSRC). SHFE conducts self-regulation in accordance with its constitution.

SHFE strictly organizes trading activities in compliance with laws, regulations, policies, and rules. It assumes front-line supervision duties, establishing a safe, systematic, and efficient market mechanism. SHFE strives to create an open, fair, impartial, and transparent market environment where participants act in good faith. It aims to build a standardized, efficient, transparent, comprehensive, and internationally recognized derivatives exchange. It actively contributes to positioning China as an international commodity pricing center and Shanghai as an international financial center. In recent years, SHFE has demonstrated its functions with a wider range of products and stable growth in scale. It has continuously enhanced its ability to serve the real economy and increased its international influence. Currently, SHFE offers 14 futures contracts for trading, including gold, silver, copper, aluminum, zinc, and lead. In 2018, the SHFE Group achieved a total trading volume of 1.202 billion board lots and a total turnover of RMB 94.28 trillion. These figures accounted for 39.68% and 44.72% respectively, of the total trading volume and turnover of all futures markets in China. Notably, the cumulative turnover of crude oil futures reached 26.594 million board lots, with a total turnover of RMB 12.74 trillion.

Main business:

1. Providing venues, facilities, and related services for futures trading.

2. Formulating and implementing business rules that govern the operations of the futures exchange.

3. Designing futures contracts and arranging for the listing of these contracts.

4. Organizing and overseeing futures trading, settlement, and delivery processes.

5. Establishing and implementing a risk management system to control market risks.

6. Ensuring the performance and fulfillment of futures contracts.

7. Publishing market information.

8. Supervising the futures business activities of exchange members and conducting investigations and imposing penalties for violations.

9. Designating delivery depositories and supervising their involvement in the futures business.

10. Appointing settlement banks and overseeing their role in futures settlement operations.

11. Carrying out other functions as prescribed by the CSRC.